22.1-190 - When insurance required and amount thereof. - Virginia Statutes

§ 22.1-190. When insurance required and amount thereof.

A. Every vehicle shall be covered in a policy of liability and propertydamage insurance issued by an insurance carrier authorized to transactbusiness in this Commonwealth, in the amounts of at least $50,000 for injury,including death, to 1 person, $200,000 for injury, including death, to allpersons injured in any 1 accident, and $10,000 for damage, includingdestruction, to the property of any person, other than the insured. Inaddition, the policy of insurance shall provide coverage for loss or damagecaused by an uninsured motorist in accordance with the provisions of §38.2-2204 and in the amounts required by this section. The policy shall alsoprovide for medical expense payment coverage in the minimum amount of $1,000.

B. The insurance so effected shall be subject to all laws of thisCommonwealth regulating insurance.

C. This insurance shall not be required in cases when pupils are transportedon a common carrier if such carrier is covered by a policy of insuranceaffording substantially the protection required by this article.

D. This insurance shall not be required in cases where pupils are transportedin vehicles which are owned or operated by a county, city, town or schoolboard which has qualified for and received a certificate of self-insurancefrom the Commissioner of the Department of Motor Vehicles, following acertification of financial responsibility equal to that required undersubsection A of this section. The Commissioner of the Department of MotorVehicles may require posting of a bond by a locality or school board as acondition to issuance of a certificate of financial responsibility pursuantto this subsection.

(Code 1950, § 22-285; 1958, c. 301; 1970, c. 681; 1976, c. 224; 1980, c. 559.)